Securities and Exchange Board of India (“SEBI”), vide the SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2024 had inserted Regulation 20(20) in the SEBI (Alternative Investment Funds) Regulations, 2012, which requires every alternative investment fund (“AIF”), manager of the AIF and Key Management Personnel (“KMP”) of the manager and AIF to exercise specific due diligence, […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated September 19, 2024 (“AIF Amendment Circular”) has introduced amendments to the Master Circular for Alternative Investment Funds (“AIF(s)”) dated May 7, 2024 (“AIF Master Circular”) regarding the valuation framework of investment portfolio of AIFs. The key amendments include: (a) Valuation norms for securities – […]
Securities and Exchange Board of India (“SEBI”), vide its circular dated July 20, 2024, had amended the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”), to provide flexibility to Venture Capital Funds (“VCFs”) registered under the erstwhile SEBI (VCF) Regulations, 1996 (“VCF Regulations”), for migrating to the AIF Regulations and to, inter alia, avail the […]
Securities and Exchange Board of India (“SEBI”), vide its notification dated August 5, 2024, has notified the SEBI (Alternative Investment Funds) (Fourth Amendment) Regulations, 2024 (“AIF Amendment Regulations”), thereby amending the SEBI (Alternative Investment Funds) Regulations, 2012 (“Principal AIF Regulations”). Key amendments were introduced regarding (a) borrowing by Category I Alternative Investment Fund (“Cat-I AIF”) […]
Securities Exchange Board of India (“SEBI”), vide its notification dated July 11, 2024, has notified the SEBI (Alternative Investment Funds) (Third Amendment) Regulations, 2024 (“Migrated VC Fund Amendment Regulations”) and thereby amended the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). The Migrated VC Fund Amendment Regulations introduced Chapter III-D specifically to govern “migrated venture […]
Securities Exchange Board of India (“SEBI”), vide its circular dated July 9, 2024, has laid down framework for the filing requirements by scheme of Alternative Investment Funds (“AIFs”) opting for dissolution period or additional liquidation period as well as conditions for ‘In-Specie Distribution of Assets of AIFs’. Filing requirements for schemes of AIFs entering into […]
